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A comment on No End in Sight for Crypto Sell-Off as Bitcoin Breaches $4,250. Parent comment

Re:No End in Sight for Crypto Sell-Off as Bitcoin Breaches $... by dd36 on Tuesday November 20, 2018 @10:15AM (#18494340)
KYC compliance: A form and proof of identity.
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Re:No End in Sight for Crypto Sell-Off as Bitcoin Breaches $... by CaptainZapp on Wednesday November 21, 2018 @04:49AM (#18501388)
Actually it goes a bit further than that.

It means to determine the actual beneficiery of a bank account in addition to traceability of the funds used.

The bloke showing id may not be the actual owner of the funds and it's up to the bank to determine this.

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